Press group Reworld Media notified the Autorité of its planned acquisition of publisher Mondadori France.
Concluding its analysis, the Autorité identified competition concerns in the car magazines market, in which the new entity would own three of the four leading titles distributed in France.
Reworld Media responded to these concerns by making a commitment to sell one car magazine title to a competitor to maintain sufficient competition in this market.
The Autorité therefore decided to clear the transaction subject to the condition that one car magazine title be sold.
|Past transactions in the press sector
The Autorité de la concurrence has had to rule on mergers in the press sector on several occasions. For example, it examined:
- the acquisition of the Est Républicain group by Banque Fédérative du Crédit Mutuel;
- the acquisition of Le Parisien and Aujourd'hui en France by LVMH;
- the acquisitions of Le Monde and Le Nouvel Observateur by Messrs. Bergé, Niel and Pigasse.
In all its decisions, the Autorité de la concurrence examined the effects of these acquisitions on competition and particularly on consumer well-being, placing conditions on these transactions where necessary to avoid homogenisation of the titles' content and ensure editorial quality and diversity are maintained for their readers.
The decision is the first since 2009 in which an acquisition has been made subject to an obligation to sell a press title.